Paper Title : AI-OCR Empowered Invoice Processing and Fraud Detection in Latin American Markets

ISSN : 2394-2231
Year of Publication : 2022

10.5281/zenodo.72332322

Authors: Avinash Malladhi

         



MLA Style: AI-OCR Empowered Invoice Processing and Fraud Detection in Latin American Markets " Avinash Malladhi" Volume 9 - Issue 1 International Journal of Computer Techniques (IJCT) ,ISSN:2394-2231 , www.ijctjournal.org

APA Style: AI-OCR Empowered Invoice Processing and Fraud Detection in Latin American Markets " Avinash Malladhi" Volume 9 - Issue 1 International Journal of Computer Techniques (IJCT) ,ISSN:2394-2231 , www.ijctjournal.org

Abstract
In the age of digitization, efficient invoice processing has emerged as a pivotal aspect of financial management. With the increasing sophistication of fraudulent methods, the reliance on conventional manual and semi-automated systems has proven to be inadequate. This article explores the role of AI-powered Optical Character Recognition (AI-OCR) in transforming invoice processing by emphasizing its potential in fraud detection. By cross-validating data captured by OCR against backend systems, the technology offers a robust mechanism for identifying inconsistencies and potential fraud. Within this scope, we present specific case studies from Brazil, Mexico, and Argentina, demonstrating the integration of AI-OCR with government authentication websites, thereby providing an extra layer of verification. Through these explorations, the article underscores the transformative potential of AI-OCR in ensuring the security and authenticity of invoice processing in the contemporary Latin American financial landscape.

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Keywords
—AI, OCR, Latin American, Fraud Identification, Invoicing